The market Is waking up to the fact that inflation won't just be something transitory, but will be with us for the next several years.
From Bloomberg:
Real yields have also slumped and that is pushing investors to seek out riskier assets alongside more traditional hedges like gold. That's helped send Bitcoin, the biggest digital currency, to a record high of almost $69,000 this week, while the total market value of the cryptocurrency industry recently briefly topped $3 trillion, according to CoinGecko.com.
The "ultimate inflation hedge" is undervalued stocks that can keep up pricing power even with consumer price readings elevated above 5%, said Ben Emons, global macro strategist with Medley Global Advisors.
See the whole article online here:
Inflation Shock Tears Up Trader Playbooks From Stocks to Bitcoin
https://www.bloomberg.com/news/articles/2021-11-11/inflation-shock-tears-up-trader-playbooks-from-stocks-to-bitcoin
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